Don't Spend One More Penny On Marketing Until You Read This......
I’m back from Burning Man and beyond thrilled to welcome 20 new lawyers into our exclusive Personal Family Lawyer program!
One thing I was sad to hear about though is the pervasive theme of how the economy is hurting so many lawyers. My Executive Vice President, Laura Lee Sparks, spoke to 37 lawyers, each of whom were downright frustrated that their marketing dollars weren’t having the same results they had in the past.
They’ve run ads, built fancy websites, spent money on search engine optimizers hoping to dominate Google for their industry keywords—just about everything short of selling their first-born child for a lead!
It’s a quite different picture from what many of our Personal Family Lawyers are experiencing. Why? Because they know not to spend a penny on marketing until they have mastered the art of turning their leads into paying clients.
If you don't want to waste your precious marketing dollars this is key for you to know too.
This week’s Law Business Briefing Memorandum explains…..
Power to the People (and your dream law business!)
Alexis
P.S. Yesterday I did an amazing tele-class with my partner Dave Dee not just for lawyers, but for all small business owners. It was called "The Triple X Factors: Your Success Blueprint for Small Business Owners Who Want To Move From Surviving To Thriving...Regardless Of Economic Conditions"
We didn't send you information about this call in advance because we've been sending you too many emails as it is! But, I wanted to make sure you got to hear it.
During this call, we revealed our Triple X Factors which will help you build your law business on a foundation of excellence that makes it impervious to economic conditions.
You can listen to the call by going to:
http://www.daveandalexis.com/xfactor
At the end of the call, we made an offer that you can read about by going to the link below BUT do NOT buy the event because I am talking with Dave about making you a very special offer for this event to thank you for being one of my subscribers. So, read all the details, but do not click buy just yet. Look for an email from me early next week with a gift.
http://www.daveandalexis.com/event
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Law Business Revolution Weekly Briefing Memorandum
Don't Spend One More Penny On
Marketing Until You Read This......
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If you’re like most lawyers, your marketing budget runs on average of $2,000- 4,000 a month. This might include everything from direct mail to email marketing, Google adwords campaigns, ads in local publications or seminars and networking lunches.
When the phone starts ringing as a result of your marketing efforts, you are beyond happy and consider your marketing investment to be money well spent.
But is it really?
Not until you master the art of turning those phone calls into money in your pocket. Unfortunately, many of you are losing a whole lot of coin because you are investing in marketing without making the same investment in conversion.
Fortunately, converting leads into clients won't cost you much more money than you are already spending to attract those leads, but it does require an upfront investment of your time and energy. Best yet, once you get it down, your lead to client conversion process can run without you.
The place to start is to get a crystal clear understanding of where you are right now. Here's what you'll want to do:
1. Over the next month, make a commitment to collect the data you need to track your numbers.
2. Have whoever answers your phones log every phone call.
3. Require that all calls inquiring into becoming a client be recorded on a prospect intake form, which captures how the person heard of you, all of their contact information, specifics about their situation and whether they made an appointment.
4. Use a spreadsheet to then track how many actually made it in for their appointment and finally how many of those callers became paying clients after meeting with you or the other attorneys of your firm.
Each week, sit down with your team and review your lead to prospect conversion number (this is the number of phone calls you received that turned into appointments) and your prospect to client conversion number (this is the number of appointments made that turned into clients).
If these numbers are not both at least 75%, don't spend any more marketing dollars until you fix your client engagement problem because otherwise you are pouring money down the drain.
I can’t stress enough that there is NO POINT in spending money on marketing if you are not doing as well as you can to convert your prospects into paying clients once they pick up the phone to call your office.
In the next few weeks, I'll cover all of this in more detail. Until then, here's a few diagnostic clues to find the “leak” where your prospects may be getting away during the client engagement process:
- Your phone is not being answered in the correct way
- There is no system to follow up with prospects who want more information
- There is no system to follow up with prospects in the time period between when they make an appointment and come in to your office for their appointment
- You are not following a script during your client engagement meeting
We'll cover each of these and more in depth in the coming weeks, but until then start by collecting hard numbers on what’s actually happening in your office so you'll be ready for the fixes as they are presented and understand which fix you need to focus on.
You may be quite surprised by what you discover once you begin collecting your numbers.
